Mesa Labs Acquires Leading Continuous Monitoring Hardware Business
November 29 2018 - 8:00AM
Mesa Laboratories, Inc. (NASDAQ:MLAB) (we, us, our, “Mesa” or the
“Company”) today announced the acquisition of substantially all of
the assets (other than current assets) and certain liabilities of
the continuous monitoring business of Point Six Wireless, LLC, a
Kentucky company (“Point Six”).
Point Six is the leading hardware provider in the continuous
monitoring space, which will be integrated into Mesa’s Cold Chain
Monitoring Division. The acquisition is expected to increase
division revenues by approximately 20 percent and to be accretive
to our diluted net income per share in the first twelve months
following the acquisition.
“We are excited to
have Point Six join the Mesa family. Point Six has been
providing wireless sensors of world class quality and reliability
for over 30 years. Customers value Point Six for their
technology and innovation,” said Gary Owens, President and Chief
Executive Officer. “Mesa has been a long-term partner of
Point Six and we are excited by the combination of Mesa’s market
leading ViewPoint Continuous Monitoring architecture with the
robust wireless sensors of Point Six. Together Point Six and
Mesa provide the most robust, scalable, and easy to use Continuous
Monitoring solution to support the most demanding of
applications. We believe that the true winner of this
combination ultimately is the customer. This is another
example of how we continue to live The Mesa Way!, our customer
focused lean operating system.”
“We are excited to be
joining Mesa Labs and the opportunity it brings to help realize our
shared vision for innovation in the Continuous Monitoring space,”
said Dan Piroli, Senior Vice President at Point Six. “We are
certain that our customers will benefit from this combination as
the two companies will endeavor to offer a best in class
solution. This joining of forces results in a collection of
talents and resources that provides significant potential, not only
for current customers, but future customers as well.”
About Mesa Laboratories, Inc.
Mesa is a global
technology innovator committed to solving some of the most critical
quality control and analytical challenges in the pharmaceutical,
healthcare, industrial safety, environmental and food and beverage
industries. Mesa offers products and services through four
divisions (Sterilization and Disinfection Control, Instruments,
Cold Chain Monitoring and Cold Chain Packaging) which help its
customers ensure product integrity, increase patient and worker
safety, and design innovative solutions that improve the quality of
life throughout the world.
Forward Looking Statements
This press release may
contain information that constitutes "forward-looking statements."
Generally, the words "believe," “will”, “estimate,” "expect,"
"project," “anticipate,” “intend” and similar expressions identify
forward-looking statements, which generally are not historical in
nature. However, the absence of these words or similar expressions
does not mean that a statement is not forward-looking. All
statements that address operating performance, events or
developments that we expect or anticipate will occur in the future
— including statements relating to revenues growth and statements
expressing general views about future operating results — are
forward-looking statements. Management believes that these
forward-looking statements are reasonable as and when made.
However, caution should be taken not to place undue reliance on any
such forward-looking statements because such statements speak only
as of the date when made. We undertake no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by law. In addition, forward-looking statements are
subject to certain risks and uncertainties that could cause actual
results to differ materially from our historical experience and
present expectations or projections. These risks and uncertainties
include, but are not limited to, those described in our Annual
Report on Form 10-K for the year ended March 31, 2018, and those
described from time to time in our subsequent reports filed with
the Securities and Exchange Commission.
CONTACT: Gary Owens.; President and CEO, or John Sakys; CFO, both of Mesa Laboratories, Inc., +1-303-987-8000
For more information about the Company, please visit its website at www.mesalabs.com
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